Plaintiffs allege that the combination of Schwab and TD Ameritrade Holding Corporation, in October 2020, violated Section 7 of the Clayton Act (15 U.S.C. § 18). Plaintiffs allege that the merger decreased competition among brokers, resulting in Plaintiffs making less money from their trading activity. The Court preliminarily approved the Settlement with Schwab on February 19, 2025. To resolve this lawsuit, Schwab agreed to implement an antitrust compliance program to address Plaintiffs’ claims.
You have received a Notice because records indicate that you may be a Settlement Class Member in this Action because you may be a current brokerage customer of Schwab or any of its affiliates, including as a former customer of Ameritrade.
More detailed information about your rights and options can be found in the Stipulation, which is available in the Helpful Resources tab.
You are automatically part of the Settlement Class if you fit the Settlement Class description. You will be bound by past and any future Court rulings, including rulings on the Settlement, if approved, and releases.
If you wish to object to the Settlement, Attorney’s Fees and Expenses, or Service Awards, you must file a written objection with the Court by July 29, 2025, and serve copies on Co-Lead Counsel and Schwab’s Counsel.
See question 13 on the Frequently Asked Questions tab.
You may ask the Court for permission to speak at the Fairness Hearing by including such a request in your written objection, which you must file with the Court and serve copies of on Co-Lead Counsel and Schwab’s Counsel, by July 29, 2025. The Fairness Hearing is scheduled for August 28, 2025 at 9:00 am CST.
See questions 16 through 18 on the Frequently Asked Questions tab.
You may enter an appearance through your own counsel at your own expense.
See question 14 on the Frequently Asked Questions tab.
More detailed information about your rights and options can be found in the Stipulation, which is available in the Helpful Resources tab.
Deadline for Plaintiffs’ final approval motion and fee and expense application
Deadline for objections to all or any part of the Settlement, application for attorney’s fees and litigation expenses, and any service awards for Plaintiffs
See question 13 on the Frequently Asked Questions tab.
Deadline for Plaintiffs’ responses to objections
The Fairness Hearing is scheduled as follows:
Date: August 28, 2025
Time: 9:00 am CST
Location: United States District Court for the Eastern District of Texas
Paul Brown United States Courthouse
101 East Pecan Street
Sherman, Texas 75090
The Fairness Hearing may be moved to a different date or time without notice to you. Although you do not need to attend, if you plan to do so, you should check the Settlement Website before making travel plans.